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ICE Opens CDS Clearinghouse

By

Kevin Kingsbury

Updated March 10, 2009 9:31 a.m. ET

The IntercontinentalExchange Inc. has begun operating its clearinghouse for credit-default swaps.

The effort is the nation's first operational clearinghouse for CDS. The Securities and Exchange Commission's approval Friday of ICE Trust marks a big step toward the U.S. government's efforts to offer clearing for over-the-counter derivatives like the swaps, which alone make up an estimated $27 trillion market.